Gold Edges Higher, Silver Gains 20.5 Cents

by CoinNews.net on December 27, 2012 · 0 comments

Three Gold Bullion Bars and NuggetsGold inched higher for a second straight session in light trading Thursday. Gold for February delivery climbed $3.00, or 0.2%, to $1,663.70 an ounce on the Comex in New York. The yellow metal traded through a pricing range of $1,653.10 and $1,666.10.

"Comex gold futures prices ended the U.S. day session modestly higher in thin holiday dealings Thursday," noted Jim Wyckoff in the PM Kitco Metals Roundup.

"Some short covering and bargain hunting, and even some fresh safe-haven demand, lifted the yellow metal… Many traders and investors are on the sidelines this week, enjoying the holiday season. That is making for thin market conditions."

Silver tracked gold with March silver futures advancing 20.5 cents, or 0.7%, to $30.240 an ounce, trading between $29.715 and $30.530.

Platinum was the lone precious metal to fall Thursday. Platinum for April delivery — the new, most active contract — closed at $1,536.00 an ounce, falling $3.00, or 0.2%. The precious metal ranged from $1,532.40 to $1,551.50.

Sister metal palladium surged with March palladium futures up $16.10, or 2.3%, to $708.50 an ounce. It traded between $689.35 and $710.00.

London Bullion Prices

London markets reopened Thursday following three off days for Christmas. In contrasting London fixings from Monday to Thursday:

  • Gold declined $7.00, or 0.4%, to $1,655.50 an ounce,
  • Silver fell 44.0 cents, or 1.5%, to $29.75 an ounce,
  • Platinum shed $7.00, or 0.5%, to $1,536.00 an ounce, and
  • Palladium jumped $17.00, or 2.5%, to $700.00 an ounce

US Mint Bullion Coin Sales in December

Sales levels for U.S. Mint bullion coins were unchanged Thursday as of 4:31 PM ET. Sales on the day, for the week-to-date, December and year-to-date follow.

US Mint American Eagle and Buffalo Bullion Coin Sales
  Thursday Sales Last Week Week-To-Date Dec Sales YTD 2012
$50 American Eagle Gold Bullion Coins 0 30,500 2,500 66,500 660,500
$25 American Eagle Gold Bullion Coins 0 1,000 0 3,000 71,000
$10 American Eagle Gold Bullion Coins 0 2,000 0 6,000 76,000
$5 American Eagle Gold Bullion Coins 0 0 0 0 315,000
$50 American Buffalo Gold Bullion Coins 0 1,500 0 8,000 132,000
American Eagle Silver Coin* N/A 232,000 N/A 1,635,000 33,742,500

 

*The 2012-dated American Eagle silver coin sold out last week. The U.S. Mint will begin selling the 2013-dated coins on January 7, 2013.

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Thursday Sales Last Week Week-To-Date Dec Sales All-Time Total
2012 El Yunque National Forest 5 oz. Silver Bullion Coins 0 0 0 2,000 21,900
2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins 0 0 0 0 20,000
2012 Acadia National Park 5 oz. Silver Bullion Coins 0 0 0 0 25,400
2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins 0 0 0 0 20,000
2012 Denali National Park 5 oz. Silver Bullion Coins 0 0 0 0 20,000
2011 Olympic National Park 5 oz. Silver Bullion Coins 0 0 0 0 85,900
2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins 0 0 0 0 39,500
2011 Chickasaw Park 5 oz. Silver Bullion Coins 0 0 0 0 29,700
TOTAL 0 0 0 2,000 262,400

 

Coin sales figures shown above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.

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